Do conservatives think massive debt created by upper class tax cuts is okay?

[LostInSeattle]

Not necessary earn. More along the lines of what you take in, as the government doesn't earn, it collects taxes.

Sure, pick whatever terms you prefer. Just don't have a convo about the debt and say it's all about spending, because it's revenues AND expenses.

 

[Anthony60]

Sure, pick whatever terms you prefer. Just don't have a convo about the debt and say it's all about spending, because it's revenues AND expenses.

Well, the government debt is caused by the government spending too much, end of story. They can't cry that a tax cut "costs money", that's complete BS. If you go out and by things you can't afford, you are in debt because you spent to much.

 

[NolanVoyd]

Well, the government debt is caused by the government spending too much, end of story

no, that is only half of the equation.

. They can't cry that a tax cut "costs money", that's complete BS. If you go out and by things you can't afford, you are in debt because you spent to much.

The solution is to bring in more money so that you can afford them.

 

[Anthony60]

no, that is only half of the equation.

Nope, they need to limit spending. It's not like they are thrifty and spend as little as possible. They spend our money like drunken Marxists.

The solution is to bring in more money so that you can afford them.

Sadly, that is how they look at it. People that try to extract more money from the people to go to government spending are not exactly our friends.

 

[NolanVoyd]

Nope,

Yep.

spending is half of the budget equation.

Sadly, that is how they look at it. People that try to extract more money from the people to go to government spending are not exactly our friends.

Tax and spend liberalism made this country great.

 

[Anthony60]

Yep.

spending is half of the budget equation.


Tax and spend liberalism made this country great.

LOL! Hey, why don't you send me your money? I'll spend it for you.

 

[NolanVoyd]

LOL! Hey, why don't you send me your money? I'll spend it for you.

Hey why don't you build and maintain an inter state highway system, how about dams and canals, that make it possible to grow Rice and tomatoes in a place where it doesn't rain from April to October?

Etc. Etc.

Or better yet take an econ class. Learn how this stuff works.

 

[Anthony60]

Hey why don't you build and maintain an inter state highway system, how about dams and canals, that make it possible to grow Rice and tomatoes in a place where it doesn't rain from April to October?

Etc. Etc.

Or better yet take an econ class. Learn how this stuff works.

Don't get upset, I thought you liked how government spends your money. I'll show you. Give me $100 for groceries, and I'll come back with around $75 worth of stuff, making sure I pay the highest prices possible for everything. Oh, the remaining money? What money? I really don't know where it went.

 

[rahl]

Well, the government debt is caused by the government spending too much, end of story.

Nope. It’s caused by spending more than they take in. When Republicans slash revenues and increase spending, we end up with massive deficits. They do it every time they are in power.

They can't cry that a tax cut "costs money", that's complete BS.

It’s a mathematical fact.

If you go out and by things you can't afford, you are in debt because you spent to much.

If you tell your boss to pay you less, and then you go out and spend more, that’s why you are in greater debt. This is what republicans do when they are in power.

 

[Anthony60]

Nope. It’s caused by spending more than they take in. When Republicans slash revenues and increase spending, we end up with massive deficits. They do it every time they are in power.

I shouldn't have left that loophole open, just thought "spending too much" would get the point across, as I was talking about debt, not surpluses.
Of course, Democrats don't do that at all.

It’s a mathematical fact.

Well, I wasn't making a mathematical point, so all good. Tax cuts don't "cost" money. That's political misdirection, deception.
The D party wants you to have that word "cost" in your head when you hear "tax cuts", they don't want you thinking that you will keep more of your own money. Egads! The horror.
It's not the government's money, so it can't cost them money.

If you tell your boss to pay you less, and then you go out and spend more, that’s why you are in greater debt. This is what republicans do when they are in power.

All well and good, but the government does not earn any money, it takes it. You can't force your boss to pay you money, under threat of arrest.

 

[rahl]

I shouldn't have left that loophole open, just thought "spending too much" would get the point across, as I was talking about debt, not surpluses.
Of course, Democrats don't do that at all.

Democrats certainly spend a lot. Republicans spend more, while slashing revenues on top of it.

Well, I wasn't making a mathematical point, so all good. Tax cuts don't "cost" money.

They by definition, cost money.

That's political misdirection, deception.

It’s mathematical fact.

The D party wants you to have that word "cost" in your head when you hear "tax cuts", they don't want you thinking that you will keep more of your own money.

It costs the tax payers because the government then has to borrow more money.

Egads! The horror.
It's not the government's money, so it can't cost them money.

All well and good, but the government does not earn any money, it takes it. You can't force your boss to pay you money, under threat of arrest.

Non sequitur

 

[Anthony60]

Democrats certainly spend a lot. Republicans spend more, while slashing revenues on top of it.

LOL!

They by definition, cost money.

Yet, you haven't explained how not taking more of our money "costs" money. Does it cost a thief money if he was going to rob you, but missed the opportunity? No.

It’s mathematical fact.

See prior post.

It costs the tax payers because the government then has to borrow more money.

I see the flaw in your thinking. You say the government "has" to borrow more money. No they don't. That's called spending too much.
We have come full circle. You have, unintentionally made my point.

 

[rahl]

LOL!

It’s not funny. It’s why we have such a high deficit when repubs are in charge.

Yet, you haven't explained how not taking more of our money "costs" money.

If you collect less money, you have less money. It’s mind blowing this needs explained to you.

Does it cost a thief money if he was going to rob you, but missed the opportunity? No.

Government isn’t a thief. False equivalence.

See prior post.

Refuted already.

I see the flaw in your thinking. You say the government "has" to borrow more money. No they don't. That's called spending too much.
We have come full circle. You have, unintentionally made my point.

I have refuted your point. The govnt passes a budget (or CR). Those expenditures need funded. Repubs slash revenues when they are in power, causing a deficit. It’s fiscal stupidity, and you keep putting them in power

 

[BrotherFease]

Upper class tax cuts??? Excuse me but everyone got tax a cut ....If you earn money and pay tax's at ANY level....you got a tax cut.

I understand their argument. They are arguing that the upper class received a larger marginal tax rate deduction than middle and lower class. That's why they call it "tax cuts for the rich".

The right-wing needs to make the argument that cutting tax rates for the upper class gives corporations the incentive to keep their shop in the United States rather than move to another country. That's why everybody should get a tax cut rate reduction. You not only want to give people more money, but you want to encourage businesses to keep their money in the United States.

 

[Captain Adverse]

Do conservatives think massive debt created by upper class tax cuts is okay?

Trump’s Wasteful Tax Cuts Lead To Continued Trillion Dollar Deficits In Expanding Economy

If tax cuts actually paid for themselves, they would reduce deficits based on faster growth. Deficits shot up in the wake of the 2017 supply-side tax cuts. And CBO forecasts that those deficits will continue to stay high -- the opposite of tax cuts paying for themselves.

www.google.com

Massive debt is caused by government spending more than it takes in and has little to nothing to do with how people are taxed.

Yet people like to push for higher and higher taxes on those who make or acquire the most money.

IMO what is really needed is a government that works within a properly balanced budget, which also seeks to allow for a budget surplus by the end of each tax year.

Instead, what we get is more and more deficit spending, often as not on things government should not be spending money on. I forget the term that applies to this kind of spending (it's early in the AM and I'm sleepy). But it's like funding a local baseball field or swimming pool, on up to buying massive amounts of arms and ammunition to "give away" to "allies," or to bribe other nations with.

I often hear talk from both Parties about balancing the budget, yet somehow that never seems to get done.

 

[rickc]

The evidence is in. Tax cuts create increases in the federal debt. If you are going to cut taxes (revenue) they must be preceeded by spending cuts. Cutting taxes without corresponding spending cut is bad policy.

 

[VySky]

Did you read the article I posted? Here is another:

After 2 Years, Trump Tax Cuts Have Failed To Deliver On GOP's Promises

The president said it would be "rocket fuel for our economy," but the Republican tax cut passed in 2017 did not pay for itself as promised — nor did it deliver a sustained boost to growth.

www.npr.org

"In fact, more than 60% of the tax savings went to people in the top 20% of the income ladder, according to the nonpartisan Tax Policy Center. The measure also slashed the corporate tax rate by 40%."



And you avoided the question, is massive debt from the Bush and Trump tax cuts okay with you?

Also "wealth envy"? Are you pro wealthy elites? Conservatives claim to hate elites, but you guys clearly worship them. Conservatives are elitists, that is you worship trust fund babies like Tucker Carlson.

NPR is not to be trusted on any level. Read it with a grain of salt.

 

[ttwtt78640]

The evidence is in. Tax cuts create increases in the federal debt. If you are going to cut taxes (revenue) they must be preceeded by spending cuts. Cutting taxes without corresponding spending cut is bad policy.

View attachment 67549624View attachment 67549625

An annual income of $200K in 1960 (where the top personal income tax bracket rate applied) would be about $2.1M now (based on CPI inflation).

 

[PeacefulWarrior]

Why isn’t that (bolded above) ‘logic’ true for housing, food, utilities and clothing?

It *is* true for housing, utilities food and clothing.

 

[Parker_Chess]

Imagine selling to a population that giving rich people tax cuts would benefit them. You cannot make this shit up the foolishness.

 

[Ganondagan]

Do conservatives think massive debt created by upper class tax cuts is okay?

Trump’s Wasteful Tax Cuts Lead To Continued Trillion Dollar Deficits In Expanding Economy

If tax cuts actually paid for themselves, they would reduce deficits based on faster growth. Deficits shot up in the wake of the 2017 supply-side tax cuts. And CBO forecasts that those deficits will continue to stay high -- the opposite of tax cuts paying for themselves.

www.google.com

No. High earning taxpayers already pay a disproportionate percentage of the income taxes. Concerned about debt? Cut spending.

Who Pays Income Taxes?​

Who Pays Income Taxes?

(PDF) updated December 2024 Taxes will dominate Congress’s agenda in 2025 as lawmakers confront the impending expiration of key provisions of the 2017 Tax Cuts and Jobs Act (TCJA). These expirations will spark intense debate over the future of the tax code, and will undoubtedly feature...

www.ntu.org

"The newest data reveals that the top 1% of earners, defined as those with incomes over $663,164, paid nearly 40.43% of all income taxes..."

"The top 10% of earners bore responsibility for 76% of all income taxes paid, and the top 25% paid 89% of all income taxes. Altogether, the top 50% of filers earned 90% of all income and were responsible for 98% of all income taxes paid in 2021."

 

[rickc]

 

[Parker_Chess]

View attachment 67549876

Looking at the graph shows the top 1% of earners saw the greatest increase. I'd be interested to see this chart from the beginning of the Trump tax cuts to now.

 

[Parker_Chess]

No. High earning taxpayers already pay a disproportionate percentage of the income taxes. Concerned about debt? Cut spending.

Who Pays Income Taxes?​

Who Pays Income Taxes?

(PDF) updated December 2024 Taxes will dominate Congress’s agenda in 2025 as lawmakers confront the impending expiration of key provisions of the 2017 Tax Cuts and Jobs Act (TCJA). These expirations will spark intense debate over the future of the tax code, and will undoubtedly feature...

www.ntu.org

"The newest data reveals that the top 1% of earners, defined as those with incomes over $663,164, paid nearly 40.43% of all income taxes..."

"The top 10% of earners bore responsibility for 76% of all income taxes paid, and the top 25% paid 89% of all income taxes. Altogether, the top 50% of filers earned 90% of all income and were responsible for 98% of all income taxes paid in 2021."

The wealthy pay the most because they hold all the wealth. The United States and oligarchy where the top 1% reaps from everyone else. Then they doop foolish people to think they are paying too much in taxes. You do realize even billionaires like Mark Zuckerberg, Bill Gates, and Warren Buffet are all on the record saying they should be taxed more. They know the system is rigged to favoring them. Lol

The top marginal rate is only 37% where back in the Eisenhower days it was as high as 90%. The rich over the decades had the rules rewritten to favor them. It's that simple.

 

[ttwtt78640]

The wealthy pay the most because they hold all the wealth. The United States and oligarchy where the top 1% reaps from everyone else. Then they doop foolish people to think they are paying too much in taxes. You do realize even billionaires like Mark Zuckerberg and Bill Gates are on the record saying they should be taxed more. They know the system is rigged to favoring them. Lol

Trying to equate wealth and income is ridiculous, but you be you.